Trezor Unboxing (Trezor Guide Part 1/3)

boxmining (72) in bitcoin • 7 years ago

Unboxing a new Trezor! This fancy white box can is a hardware wallet that can hold multiple cryptocurrencies like Bitcoin, Ethereum and Dash. With hardware wallets, the private key never leaves the device - meaning that hackers can't steal your Bitcoin!

Buy your Trezor at: https://shop.trezor.io?a=6xd5fhdqqjng

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7 years ago by boxmining (72)

$503.24

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btcmillionaire (60) · 7 years ago

Best feeling! I wrote about when I first got my one here - https://bitcoingamblingreviews.com/we-bought-a-trezor/

$4.81

3 votes

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marc99 (55) · 7 years ago

Unboxmining?

$3.97

3 votes

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mikemiziner (49) · 7 years ago

Thanks for this, i follow your vids on youtube as well, love the work you do!

$2.15

1 vote

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eight-rad (58) · 7 years ago

I agree, great investment for peace of mind.

$0.47

1 vote

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skycornish (55) · 7 years ago

Trezor > Ledger!

$0.38

1 vote

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themobilewriter (48) · 7 years ago

What is your opinion on paper wallet? Hardware wallets are little bit expensive for small investor like me. This Trezor wallet costs almost $200 on Amazon in my country.
Also, how do you backup software wallets while formatting the system to re install the OS.

$0.32

2 votes

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algenisfig (38) · 7 years ago

You are right. The price of hardware wallets is on the expensive side, it will keep many away from them. If you plan to hold and keep investing in Crypto currencies for a long time, i would still recommend it, because of the added security in your investment. You may buy $100 worth of Bitcoin today, but what if you hold it for a long time and then is worth $1,000? Or more. Paper wallets are useful in that you can keep storing your coins there but remember two things: 1) You can only add coins to your paper wallet so you won't be able to use it for say daily transactions. 2) It is a piece of paper and you have to make sure you keep it safe somewhere. Fire, water damage could destroy it easily, so you may want to have more than one copy or make sure you have your address and private key backup somewhere safe. Cheers.

$0.27

1 vote

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themobilewriter (48) · 7 years ago

Thanks. I had a misconception that i can use paper wallet like a normal software or hardware wallet.

$0.00

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safetony (47) · 7 years ago

@themobilewriter To backup you can write down the seed words or private key on a piece of paper.

I keep multiple copies on paper and encrypted usb.

The easisest and safest way is to export your wallet file but if you forget your password you won't be able to get back in. SEED words and private keys need to be encrypted to be secure!

You also have ledger wallet which is cheaper and just as effective.

$0.00

1 vote

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themobilewriter (48) · 7 years ago (edited)

Thanks for sharing. This was something i did not knew. I am currently using exchange wallet to keep my bytecoins & bitcoins. Bought both them just 20 days ago. I was little hesitant to transfer them in software wallet installed in my system. I actually have to change(upgrade) my motherboard to add another graphics card in my pc. I have OEM copy of windows 10. Since, windows considers motherboard change as a major change, i may have to install a fresh copy of windows by formatting the system. This had me worried since formatting erases all the system data. This is why i was considering paper wallets.

$0.00

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hackerwhacker (58) · 7 years ago

What happens if the wallet gets corrupted or stops functioning?

$0.06

3 votes

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themobilewriter (48) · 7 years ago

This is a major concern for me too. Any how it is a electronic device. A lot of Pendrives have got corrupted in the past.

$0.00

2 votes

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algenisfig (38) · 7 years ago

As long as you have your seed words (the words are given to you when you first setup your Trezor) you can restore your wallet on a new or wiped Trezor hardware wallet.

$0.00

2 votes

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bernardchapin (56) · 7 years ago

that's a really wise decision, i don't want to store anything on a website with the way they're hacking everyone's holdings.

$0.04

1 vote

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serkagan (65) · 7 years ago

I've heard a lot about such devices and having seen the video I understood, I must buy! Thank you @boxmining

$0.00

1 vote

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ericsims (25) · 7 years ago

Can you have multiple addresses for multiple cryptos? Sorry for noob question.

$0.00

1 vote

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cheapproperty (39) · 7 years ago

Is the Ledger Nano S not better value and holds more types of coins. These kinda expensive as normally get them free from banks. But I guess have to pay as you are your own bank.

$0.00

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bitgeek (62) · 7 years ago

Congratulations @boxmining, this post is the sixth most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 402 and the total pending payments to posts in this category was $10116.24. To see the full list of highest paid posts across all accounts categories, click here.

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